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Why Indonesia is a rich country?
It is the region’s biggest economy and part of the G20 group of the world’s richest nations. Manufacturing is the largest single component of the country’s economy. Indonesia’s main exports include crude petroleum and natural gas as well as rubber, coffee, cocoa and palm oil.
Is Indonesia a high income country?
JAKARTA, KOMPAS.com – Indonesia is now classified by the World Bank as a lower-middle income country, a downgrade from its previous category as one of the upper-middle income countries based on gross national income (GNI) per capita in 2020.
Is the Philippines a high income country or a low income country?
THE PHILIPPINES remained a lower-middle-income economy after a coronavirus pandemic pulled the economy down last year, according to the World Bank.
Why is Indonesia not a rich country?
So why is Indonesia poor? A significant cause of poverty in Indonesia is a lack of adequate infrastructure. Much of Indonesia’s existing infrastructure is of poor quality and the country is lacking roads, harbors, airports and resources for power generation.
Why is Indonesia economy growing?
Resilient economic growth, low government debt and prudent fiscal management have been cited as reasons for the upgrades and are key in attracting financial inflows into Indonesia: both portfolio flows and foreign direct investment (FDI).
Why is Indonesia richer than Philippines?
An Indonesian boom sparked by growing economic stability and falling corruption and debt levels has helped Indonesians catch up and become better off than Filipinos in per capita income in recent years. …
Is Indonesia bigger than Philippines?
Indonesia is about 6 times bigger than Philippines. Philippines is approximately 300,000 sq km, while Indonesia is approximately 1,904,569 sq km, making Indonesia 535\% larger than Philippines.